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Recent Real Estate License questions

The Buyer Broker Agreement is not worthless. It is more of a

The Buyer Broker Agreement is not worthless. It is more of a "feel good" document and is a very difficult document to enforce. I have never had an agent successfully enforce it. I've heard there may have been some over the years - but they are few and far between. You will need to sign an assignment document where you agree to indemnify HomeSmart against all claims that the buyer may file against us. That could be very expensive for you and if the buyer gets an attorney - that is the first thing they will do. Kyle is correct - you should contact them directly and try to work something out. If you want to file suit against the buyer - I will prepare he assignment next week when I am back. My advice is to NOT go down that road.Trudy MooreDesignated Broker

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Phillips Esq.

Attorney

Juris Doctor

18,336 satisfied customers
I have a temporary inactive real estate license in Georgia.

I have a temporary inactive real estate license in Georgia. I would like to know what I need to do if anything to introduce a realtor/owner to a private money funding for one of his deals. I'm not involving myself in any aspect of the real estate dealings.

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Irwin Law

Juris Doctor JD

8,832 satisfied customers
I run a rental property and I had an employee that had a

I run a rental property and I had an employee that had a real estate license. She was turning renters into home buyers from my complex without my knowledge. I found this out after she left and I read an email she had written to a tenant letting them know that she was a realtor and she could find them a house for about the same amount of money they paid in rent. Is this legal? If not can you refer me to a statute? Thanks, Elizabeth

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KimberlyLaw

Principal Attorney

Master's Degree

4,008 satisfied customers
My wife is currently on disability. I recently got my CA

My wife is currently on disability.I recently got my CA real estate license and I want her to help me from my home office.It would be best to have her get her license so she can discuss all topics. Without her license, she can't discuss pricing and interest rates.If no sales go through her license, would she jeopardize her disability?

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legalgems

Juris Doctorate

13,838 satisfied customers
I just bought a house from an owner/RE Agent. I did not opt

I just bought a house from an owner/RE Agent. I did not opt to hire a home inspector but did the inspection because the home had a new roof, HVAC, all new flooring, inside paint, all new appliances, hot water heater (everything), new bath fixtures and ceiling fans. It was flawless inside and out. I received a Georgia :Seller's Property Disclosure Statement completed and signed by the owner agent. The property is a rental and my new tenant's family of four moved in the day of closing. Four days after closing, my tenant called and said the washer draining is backing up to the clothes washer. The property has a septic system for all water related appliances except the washer. It has its own drain system, probably some sort of drain field. I called my Septic/drain expert who says the drain is not adequate and deeps a properly sized drain system. I am contracting him to install the $ 1,500 125 Gallon drain and filter system. He has a solid reputation and came recommended by my Realtor. Here is the problem: The seller noted on the Disclosure under the question "Are there any leaks, backups, or other similar problems with any portion of the plumbing, water or sewage systems?" His answer was no. I believe he is liable for some part or all of the $ 1500 fix. What is your legal opinion of my best approach or rights in this situation? If he had answered "I don't know", I would have made a different decision about that part of an inspection. As a Colorado RE Broker myself for many years and a commercial RE bank senior executive, I believe the owner agent should have known the consequences of his answer(s) on the disclosure. I think the Georgia Real Estate licensing authority would see it my way as well if I ask for an investigation on the transaction. Your opinion please. Thanks

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

47,172 satisfied customers
I was trying to sell sell my house in Sacramento

I was trying to sell sell my house in Sacramento Area(Lincoln). One of the buyer signed the purchase contract. IN between he changed the lender. He later requested to move in prior to close of escrow with a commitment to close escrow within 10 days.However he was hiding the fact from us that there are pending actions from lender and he may not qualify for the loan. Ultimately his loan was rejected and he immediately threaten us for legal action without mentioning the loan denial. His complain is that there is mold in the house and not safe for him to stay.But he is not moving out, not signing any paperwork and not providing me any update about his intention.My agent didn't create any rental agreement and buyer's agent is not cooperating.What are my options?Other than eviction process, do I have a case for a damage lawsuit because of false complain(Mold), Hiding facts(About Loan Objection) and financial and psychological pressure on me. If yes, how much monetarty amount I can sue him for?

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J. Warren

Attorney

Doctoral Degree

4,152 satisfied customers
We need to have a person to lease our rental properties in

We need to have a person to lease our rental properties in Michigan. Does a person need to have a real estate license to lease our rental properties in the state of Michigan? Could we hire someone as an independent contractor to show people the units? Could they sign them up or would a broker/salesperson need to sign the lease? My understanding is that a property manager needs a license as they collect ongoing percentages for the leases. Correct?

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Loren

Juris Doctor

37,126 satisfied customers
I have an exclusive 30 day option to buy a piece of land in

I have an exclusive 30 day option to buy a piece of land in Nevada.I do not have a real estate licenseMy intention is to market the land on the internet with photos and description, find a buyer and do a double close (concurrent close or A to B to C closing) with a title company.Would I be breaking any laws?Do i need to disclose in my ad that I am not the legal owner?Am i allowed to post an ad at all?are there any restrictions to what and how i can market?ThanksPat

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

47,172 satisfied customers
Real Estate Attorney. I sold a property two years back I

For a Real Estate Attorney. I sold a property two years back I have a Real Estate License but have not actively sold for 19 years. I hired a Broker to list the property.To make a long story short another Broker representing herself made an offer. Afterlots of negiotations through my Broker she backed out because a TDS was not issued to her. My Broker verbally told me you do not need a TDS for a commercial property but after checking it was two residential units and two commercial units and yes it was required. I am suing him for damages I sold the property but for $250,000 less it is ascertaining I should have know because I was an agent can this fall on my lap? Thanks

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CalAttorney2

Attorney

Doctoral Degree

20,178 satisfied customers
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